Parent organization Hilltop Holdings Inc. | ||
Headquarters Dallas, Texas, United States | ||
Headquartered in Dallas, PlainsCapital Corporation is one of the largest independent financial institutions in the U.S. with 330 locations in 42 states and over 3,700 employees. PlainsCapital was founded by current Chairman and CEO Alan B. White and a group of investors in 1987.
The PlainsCapital Corporation family of companies includes: PlainsCapital Bank with more than $6.3 billion in assets as of Sept. 30, 2012; FirstSouthwest, public finance advisory firm and investment bank with locations across the U.S.; national mortgage company PrimeLending; and Hester Capital Management, an Austin-based asset management firm.
History
Shortly after establishing PlainsCapital Corporation in Lubbock, Texas, in 1987, a group of investors led by Alan B. White purchased Plains National Bank in Lubbock in 1988. The bank (later renamed PlainsCapital Bank), with $174 million in assets, was the start of White’s much larger vision to create an independent statewide banking organization.
In 1999, PlainsCapital Bank opened its first Dallas branch in the affluent Turtle Creek neighborhood. That same year, PlainsCapital acquired Dallas mortgage company PrimeLending. In 2000, PlainsCapital Corporation moved its headquarters to Dallas.
The bank expanded into Austin in 2001, Fort Worth in 2003, San Antonio in 2004 and Weatherford in 2006. During this time of growth, PlainsCapital also added trust, wealth management and capital equipment leasing to its service offering.
In 2007, PlainsCapital announced plans to move its corporate headquarters from Turtle Creek to Dallas’ new Victory Park development. The corporate headquarters relocated to Victory Park in 2009 after adding two new bank locations in the Victory Park neighborhood.
On December 31, 2008, PlainsCapital Corporation completed its acquisition of FirstSouthwest, a Dallas-based investment bank. PlainsCapital is now one of the few privately held, middle-market financial services company in Texas to offer investment banking and public finance advisory services in-house.